In our country 30% capital gains tax whether for short or long term with no offset against loss, along with that 1% TDS which is also a huge sum. For example If I sell $1000 worth of bitcoin then $10 will be deducted instantly that's flat rate whether I made a profit in that $1000 trade or not.
It's 30% tax + 4% cess, irrespective of any other income in India (so, a 15Y old kid transacting in crypto would be liable too). 1% TDS is deductible at the time of transaction. i.e., one pays 1% tax even if there is a loss.
There is still confusion, if the tax + cess is on each transaction (individually) or the sum of all transactions during the FY. This is important as there is no offset against loss.
Trust the (Indian) government to keep everything messy, and unclear, and free to interpretation as they feel like. That, while they (govt. employees) freely take bribes via crypto.
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